SPX - Support & Resistance

١٢ أغسطس ٢٠١٨

Friday's session was like, Market started the correction phase before it goes to the 3000 level. Last week the Renko chart showed us the 2860 area as a strong resistance & spend three whole days up there. In fact many doji candles were appearing near that level which is a sign of indecision. The area around 2800 is acting like the loading zone for buyers to spin it higher. Hence from the Renko chart I expect the market to travel somewhere near the following levels:

Resistance

2860
2849
2835

Support

2821
2814
2803
2794